Excerpt from: CFDs & Spread Bets
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| December 01, 2009 | | Spread bets and CFDs on gold prices | Spread betting and contracts for differences on commodities should consider that gold prices are on the rise today. Earlier, spot gold hit $1,198 an ounce. Gold has settled back to something closer to $1,192, but gold bugs and others believe it's just a matter of time before reaching gold $1,200.
For the most part, it appears as though concerns over Dubai have been largely contained. This is allowing a measure of risk to return to the markets, sending gold higher, along with other commodities, including oil prices, which are again approaching striking distance of $80 a barrel.
The strength of gold is putting downward pressure on the U.S. dollar in forex trading, sending it lower against the other majors today.
| Topic Tags: CFDs, commodities, contracts for differences, gold 1200, gold prices, oil prices, spread bets, spread betting, U.S. dollar | |
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